Blackstone’s Link Logistics Buys LA Warehouse for $356 PSF


Blackstone’s big last-mile logistics platform is getting bigger in Southern California.

Link Logistics bought an 82,200-square-foot industrial building on 3.1 acres at 1719 Chapin Road in Montebello, Calif., in Los Angeles County for $29.3 million in an off-market transaction. The acquisition is equal to about $356 per square foot, nearly three times the national average for industrial space and greater than the average reported price in Southern California.

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JLL announced the deal Monday and represented the buyer.

“With a strong Los Angeles industrial market, we are seeing well-positioned investors like Link Logistics look to grow their portfolio,” JLL’s Mark Vanis said in a statement. “We continue to see rising rents, decreasing vacancy and very little development, causing strong investor demand with no slowdown in sight.”

Link Logistics did not immediately return a request for comment.

The national average industrial sales price in the third quarter was $131 per square foot, according to a recent report by CommercialEdge. L.A. County posted an average of $295 per square foot.

According to JLL’s second-quarter report, rents continued to jump, rising 16 percent quarter-over-quarter, while vacancy remained near record lows at 0.7 percent across the 776 million-square-foot L.A. County market. 

Meanwhile, Link Logistics has been active as both a buyer and a seller. According to its most recent report, the firm acquired 14.5 million square feet in 64 buildings for $2.8 billion, and sold 13.5 million square feet of assets totaling approximately $1.9 billion, just in the second quarter this year.

Vanis, along with JLL’s Jon Reno, Trevor Gale and Sage Segal, represented Link Logistics in the acquisition.

Gregory Cornfield can be reached at